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The Korea Herald
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THE INVESTOR
March 28, 2024

The Boardroom

Tycoons appear at parliamentary hearing

  • PUBLISHED :December 06, 2016 - 10:15
  • UPDATED :December 06, 2016 - 16:33
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[THE INVESTOR] Heads of the nation’s nine largest conglomerates arrived at the National Assembly on Dec. 6 to be grilled over their possible involvement in the snowballing influence-peddling scandal surrounding President Park Geun-hye.

At issue is whether they donated money to two dubious foundations controlled by the president’s long-time confidante Choi Soon-sil in return for business favors. 




The nine chaebol owners include Samsung Electronics Vice Chairman Lee Jae-yong, Hyundai Motor Group Chairman Chung Mong-koo, SK Group Chairman Chey Tae-won, LG Group Chairman Koo Bon-moo, Lotte Group Chairman Shin Dong-bin, Hanwha Group Chairman Kim Seung-youn, Hanjin Group Chairman Cho Yang-ho, CJ Group Chairman Sohn Kyoung-sik and GS Group Chairman Hur Chang-soo.

The hearing session started at 10 a.m.

The Samsung heir is expected to receive more questions than others.

Samsung donated the largest amount of money to the foundations and offered financial assistance to Choi’s daughter, a former national equestrian player.

Lawmakers will probe whether the donations were made in exchange for the president’s pressure on the National Pension Service to support the controversial merger of Samsung C&T and Cheil Industries last year, a crucial deal for the group’s ongoing business restructuring ahead of the pending leadership transfer to a new generation.

By Lee Ji-yoon (jylee@heraldcorp.com)

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